What are local content requirements?
Local content requirements impact the global economy The fastest growing of these measures are local content requirements (LCRs), which are policies imposed by governments that require firms to use domestically-manufactured goods or domestically-supplied services in order to operate in an economy.
What is domestic content requirement?
The domestic content requirement (DCR) category was instituted in the Jawaharlal Nehru National Solar Mission from the beginning of 2010 in an effort to create a healthy and robust indigenous manufacturing base and to elevate India’s status as a solar hub.
What is domestic content?
Broadly understood, domestic content restrictions are provisions which require that items purchased using specific funds appropriated or otherwise made available by Congress be produced or manufactured in the United States. The Buy American Act is one restriction that has been so waived.
When was the Nigerian Local Content Act signed into law and under whose administration?
(Apr. 30, 2010) On April 22, 2010, Goodluck Jonathan, Nigeria’s Acting President, signed into law the Local Content Bill 2010 [the Act], a piece of legislation designed to increase participation of Nigerian ventures and workforce in the oil sector.
How do I register for DPR?
DPR REQUIREMENT FOR COMPANY REGISTRATION
- Certificate of incorporation or certificate of registration (for an enterprise)
- Form CAC 1.1.
- Company’s current tax clearance certificate and vat certificate.
- Employee’s compensation scheme (Nigeria Social Insurance Trust Fund- NSITF)
What is a local content plan?
The principal objective of local content strategies is to maximize local benefits from oil and gas development projects through increased participation of the local workforce and firms. Key features of local content strategies or plans include: Training of the local workforce; Local goods and services procurement; and.
What is Ncec certificate?
What is Nigerian Content Equipment Certificate (NCEC)? It is a certificate issued by Nigerian Content Development and Monitoring Board (NCDMB) to companies in Nigeria in recognition of its commitment to the local content policy.